Trump’s Military Buildup Would Cost an Extra $683 Billion Over 10 Years: CBO

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President Trump’s plans for the military could add $683 billion to defense spending over the next 10 years, according to a new Congressional Budget Office analysis. That represents a 12 percent increase compared to the Obama administration’s final budget plan for those years, CBO said.

Trump’s goals would lead the base defense budget to grow from $575 billion in fiscal 2018 to $688 billion by 2027 (in constant dollars), or more than 20 percent larger than peak spending during the 1980s.

CBO says several factors would contribute to the rising costs, including a roughly 10 percent rise in the number of service members, a 30 percent jump in the size of the Navy fleet and increased purchases of weapons and spending on weapons research.

As editor in chief, Yuval Rosenberg oversees all aspects of The Fiscal Times' website and email newsletter. His writing has appeared in publications including BusinessWeek, CNBC.com, CNNMoney.com, Fast Company, Fortune, Newsweek, Money and Time.